LONDON: Begbies Traynor Group plc (LON: BEG) announced the acquisition of MAF Property Limited, which trades as MAF Finance Group, a Midlands-based finance broker. The acquisition is for a maximum potential consideration of £11.75m on a cash free and debt free basis with normal levels of working capital (i.e. adjusted for cash, debt and working…
STM Group sells Jersey business for £1.40 million
LONDON: STM Group Plc (LON: STM) announced the unconditional sale of its Jersey based trust and company services businesses (STM Jersey) for a minimum net cash consideration of £1.40 million. The sale completes the Company’s strategy to exit the CTS sector, and focus on its core activities of pension administration and life assurance. The sale…
Eight Capital Partners acquires Innovative Finance (InnFin)
LONDON: Eight Capital Partners (AQSE: ECP) has acquired financial services business, Innovative Finance Srl (InnFin). The Company will pay an initial €2.45m with a further potential earn-out of up €2.45m based on the achievement of financial performance targets. It also announced a term loan to the Company of €1.1m. Eight Capital Partners (AQSE: ECP) board…
Amino Technologies bids to acquire MobiTV
LONDON: Amino Technologies (LON: AMO), a software-led global media technology company that delivers modern TV experiences, has submitted a bid to acquire the trade and assets of MobiTV Inc. and MobiTV Services Corporation, a US live and on-demand TV platform provider. MobiTV is USA based and provides a TV-as-a-Service (TVaaS) solution that allows operators to…
Hansard Global appoints Graham Sheward as Chief Executive Officer
Hansard Global (LON: HSD) announced the appointment of Graham Sheward as Chief Executive Officer (CEO) and Director with immediate effect. Graham will succeed Gordon Marr who, as announced in March, is retiring from the Company. Gordon is stepping down as CEO and Director upon Graham’s appointment. He will remain with the Company to ensure a…
Corcel Plc acquires 40% interest in Tring Road 50MW gas peaking project
LONDON: Corcel Plc, the natural resource exploration and development company with interests in battery metals and flexible grid solutions, announced the acquisition of a 40% interest in the “shovel ready” Tring Road 50MW gas peaking project outside of Aylesbury from Arlington Energy Limited. The Company further announced its intention to explore and discuss with AE…
Techstep signs agreement to acquire Poland based Famoc for NOK 103 million
OSLO: Techstep ASA (FRA: B1T) has signed an agreement to acquire the entire share capital of Famoc S.A. and affiliates, a software company based in Poland with a European customer base, a news release said. The transaction will be financed by raising NOK 100 million of new equity in Techstep, fully underwritten by the largest…
Archer Limited acquires DeepWell for NOK 177 million
HAMILTON: Archer Limited has signed an SPA to acquire DeepWell based on an enterprise value of NOK 177 million on a debt and cash free basis. The Transaction is accretive both to Archer’s NIBD / EBITDA ratio and EV / EBITDA ratio. Archer will use existing cash and liquidity reserves to finance the Transaction. DeepWell…
Abu Dhabi based Multiply Marketing acquires stake in U.S. digital media platform Firefly
ABU DHABI: International Holding Company (IHC)’s subsidiary Multiply Marketing Consultancy (MMC) has acquired a stake in Firefly, a street-level digital media platform that connects audiences with dynamic media on taxis and rideshare vehicles. Investment accompanied by joint-venture plans to bring Firefly’s proprietary media technology to the Middle East. Firefly is backed by premier investors such…
Etisalat raises Euro 1.0 billion through 7-year and 12-year bonds
ABU DHABI: Emirates Telecommunications Group Company has successfully issued 7 and 12 years bonds under its established USD 10 billion “Euro Medium Term Note” (EMTN) Programme. Etisalat is rated Aa3 stable (Moody’s) and AA-Stable (S&PGlobal). The bonds issuance was completed after conducting roadshows with international investors on 4th and 5th of May 2021. The issued…
Senaat intends to merge Emirates Steel with Arkan Building Materials
ABU DHABI: General Holding Corporation (Senaat) has expressed intention to combine its wholly-owned subsidiary Emirates Steel Industries with Arkan Building Materials Company (ADX: ARKAN). “The Board of Directors of Arkan Building Materials Company (ADX: ARKAN), a leading construction and building materials company in the UAE, has received an offer from General Holding Corporation (Senaat) to…
Al Meera Consumer Goods to launch two Lifestyle Community Malls in Lusail
DOHA: Al Meera Consumer Goods Company has announced its acquisition of two properties from Qatari Diar where the retailer has set sights to launch Al Meera lifestyle community malls, a news release said. The properties, located in Lusail’s Fox Hills District and North Residential Villas District, will serve the surrounding neighbourhood and visitors to Lusail…